What is a lady bird deed a/k/a an enhanced life estate deed?

Lilly: I would like to know, sir, if you need a Lady Bird, I don't know the other name for that form and a will?

Attorney Tom Olsen: Yes, Lilly.

Lilly: Is the Lady Bird just for your house?

Tom: A Lady Bird Deed is a tool to avoid probate on real estate here in Florida. It could be your home. It could be a rental property. It could be your beach condo. We can use it even if you've got a mortgage on your home. The Lady Bird Deed, tool to avoid probate on real estate. When we do a Lady Bird Deed, we typically do it together with that package of estate planning documents, including a living will, healthcare surrogate, and financial power of attorney. Must you have a will and a Lady Bird Deed? The answer's no, but typically we do have both. The Lady Bird Deed within the deed itself, it states who gets your piece of property when you pass away, Lilly.

Let's just say you got three kids. We put the names of the three kids in that Lady Bird Deed. Lilly, when you pass away, the only thing your kids need to do is record your death certificate and the public records of the county where your home is located in, and that property will automatically belong to them. No headaches, no hassles, no probate. Chris, we've done thousands of Lady Bird Deeds, and we've had hundreds of kids call us up and say, "Tom, I am so glad my mom or dad did this. It was exactly as easy as you said it was."

Attorney Chris Merrill: I think that Tom, yes thank you. Because you described very well about how easy it is as far as avoiding probate, and then the other really significant thing for us about this deed, the Lady Bird Deed is this, but it keeps you our client in complete control.

Attorney Tom Olsen: Yes. Lilly, with a Lady Bird Deed, it states that as long as you are alive, it is your piece of property to do with as you please, no restrictions whatsoever. Lilly, if I did a Lady Bird Deed for you today, and you're leaving it to your three kids, and six months from now, you want to sell that property or change it and leave it just two of your kids? You're going to be able to do so without your children's knowledge, signature, and consent. The Lady Bird Deed is a great tool to avoid probate and maintain complete control over your piece of property.

Attorney Chris Merrill: Exactly. It's a peace of mind that they're still in complete control, they can do whatever they want, but then down the road if they do pass away, now they have the peace of mind that it goes to their children and/or whoever, whatever other loved ones without probate.

Attorney Tom Olsen: By the way, the Lady Bird Deed also known as an Enhanced Life Estate Deed, we have free booklet on Lady Bird Deed. You want to get that? Go to olsenlawgroup.com. Scroll down on page one. You'll see a picture of those booklets. Fill in your name and address, we'll mail it to you, or call The Olsen Law Group in Orlando next week. Just talk to Lydia at the front desk, ask her for the Lady Bird Deed, sometimes called the lady bird deed by some people, but we'll know what you're talking about and-

Attorney Chris Merrill: We will.

Attorney Tom Olsen: -we'll get it out to you. By the way, with free booklets, they now come with two sweet treats with every book that we mail out to you.